Question: How Much Is Jio Worth?

Did Ambani sell Jio?

Jio Deals: Mukesh Ambani-Led Reliance Sold 25% Stake In Jio For Rs 1.18 Lakh Crore Since April 22..

Who is the No 1 richest person in India?

Mukesh AmbaniOil and gas tycoon Mukesh Ambani, with a net worth of $36.8 billion, retained his title as the richest Indian, despite suffering a $13.2 billion drop from a year ago.

Why did Ambani sell Jio?

Mr Ambani has been selling stakes in Jio in support of a vow to bring net debt of more than $20 billion to zero at his oil, retail and telecommunications group before March 2021. … The sales are also “another step toward achieving a zero net-debt company by calendar year 2020,” he said.

How much money did Mukesh Ambani have?

80 billion USD (2020)Mukesh Ambani/Net worth

Who is the No 1 richest person in world?

No. 1 Jeff Bezos Amazon founder Jeff Bezos is the world’s wealthiest person for the third year in a row, worth $113 billion.

Who is the boss of Jio?

Mukesh AmbaniReliance Industries’ latest acquisition takes Mukesh Ambani closer to e-commerce launch. Master Business Fundamentals from WhartonLeadership and Business Skill for Immediate I… Take Big Data from University of California S… Take Machine Learning from University of Wash…

What is the net worth of Jio?

JioJio’s headquarters in RCP, Navi MumbaiTotal assets₹187,720 crore (US$26 billion) (FY 2019)Total equity₹70,864 crore (US$9.9 billion) (FY 2019)Members389.11 million (30 April 2020)ParentJio Platforms13 more rows

Is Jio making any profit?

Jio’s net profit climbed 46% on-year to Rs 891 crore in the quarter to June, well above the roughly Rs 800 crore estimated by the markets. … IIFL said revenue of Rs 11,679 crore was a growth of 5% sequentially, or a daily revenue run-rate (DRR) growth of 4%, but marked a “significant” slowdown from recent quarters.

Why did Mukesh Ambani sell Jio?

The Jio deals will help reduce Reliance’s heavy debt burden, which stands at $44.4 billion. Ambani has said he is committed to reducing Reliance’s net debt to zero by 2021. Reliance also raised $7 billion in a rights issue that closed earlier this month. … Funds raised from that will also go toward paring down its debt.

How much debt is Jio?

Reliance Jio’s net debt has fallen to ₹21,900 crore from its peak of ₹2.17 lakh crore, with global investors pumping funds over the last six weeks, for equity stake in its parent Jio Platforms Ltd., which is a wholly owned subsidiary of Reliance Industries Limited.

How many subscribers does Jio have?

370 million subscribersJio now has 370 million subscribers, an increase of 90 million compared to the same time last year, with average monthly revenue per user reported as ₹128. Over the previous year, the number of new additions to its network total at 136 million.

Who is the poorest man in the world?

man Jerome KervielThe world’s poorest man Jerome Kerviel has handed himself in to French authorities. Jerome Kerviel, the ex-Societe Generale trader who has more debt than anyone else in the world, has turned himself in to French authorities to begin a three-year jail sentence.

Is Airtel in loss?

Sunil Bharti Mittal-led Bharti Airtel on Monday posted a net loss of Rs 5,237 crore for the quarter ended March 31, 2020, as it set aside monies for payment of adjusted gross revenues. … The company’s consolidated revenue for the quarter recorded a growth of 15.1 per cent on year to Rs 23, 723 crore.

Is Jio overvalued?

paid US$5.7 billion for a 9.99% stake in Reliance’s Jio Platforms Ltd. … LP said it is investing about 65.98 billion Indian rupees, or about US$869.8 million. The Facebook deal, which set the floor for subsequent investments, was “overvalued” according to Shifara Samsudeen, equity analyst at LightStream Research.

Who is the richest man in Asia?

Mukesh AmbaniAsia’s richest man, Mukesh Ambani, is now among the world’s 10 wealthiest people.

When 5g will Launched in India?

5G networks were once expected to be launched in India by late 2020 or early 2021, but it’s now highly unlikely that this could happen before mid-2021.

Who is richest actor in the world?

The 20 Richest Actors of Modern Times, Some of Which Turned Out to Be Dark HorsesJerry Seinfeld — $860 million. © eastnews.Shah Rukh Khan — $550 million. … Tom Cruise — $480 million. … Tom Hanks — $470 million. … Johnny Depp — $440 million. … Mel Gibson — $400 million. … Tyler Perry — $400 million. … Jack Nicholson — $400 million. … More items…